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Part II Reconciliation of Net Income (Loss) per Income Statement of Partnership or LLC with Total Income (Loss) per Return – Income (Loss) Items

(a)

(b)

(c)

(d)

(e)

(f)

Income (Loss)

Temporary

Permanent

Amounts from

California

Amounts using

Income (Loss) Items

per Income

Difference

Federal Schedule

Adjustments

California Law

Statement

M-3 (1065)

Column (d)

1 Income (loss) from equity method foreign corporations . . . . . . . 1

2 Gross foreign dividends not previously taxed . . . . . . . . . . . . . . . . 2

3a Subpart F, QEF, and similar income inclusions . . . . . . . . . . . . . . . 3a

b Income for California Purpose from Foreign Corporations . . . . . . 3b

4 Gross Foreign distributions previously taxed . . . . . . . . . . . . . . . . 4

5 Income (loss) from equity method U .S . Corporations . . . . . . . . . 5

6 U .S . dividends not eliminated in tax consolidation . . . . . . . . . . . . 6

7 Income (loss) from U .S . partnerships (attach schedule) . . . . . . . 7

8 Income (loss) from foreign partnerships (attach schedule) . . . . . 8

Income (loss) from other pass-through entities (attach schedule)

. . 9

10 Items relating to reportable transactions (attach details) . . . . . . . 10

11 Interest income (attach federal Form 8916-A) . . . . . . . . . . . . . . . 11

12 Total accrual to cash adjustment . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Hedging transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Mark-to-market income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Cost of goods sold (attach federal Form 8916-A) . . . . . . . . . . . . . 15

16 Sale versus lease (for sellers and/or lessors) . . . . . . . . . . . . . . . . 16

17 Section 481(a) adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

18 Unearned/deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Income recognition from long-term contracts . . . . . . . . . . . . . . . 19

20 Original issue discount and other imputed interest . . . . . . . . . . . 20

21a

Income statement gain/loss on sale, exchange, abandonment, worthlessness,

21a

or other disposition of assets other than inventory and pass-through entities

Gross capital gains excluding amounts from pass-through entities,

21b

attach Schedule D (565 or 568) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross capital losses excluding amounts from pass-through entities,

abandonment losses, and worthless stock losses, attach

21c

Schedule D (565 or 568)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Net gain/loss excluding amounts from pass-through entities, abandonment

21d

losses, and worthless stock losses, attach Schedule D (565 or 568)

. . . . . . . .

e Abandonment losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21e

f Worthless stock losses (attach details) . . . . . . . . . . . . . . . . . . . . 21f

g Other gain/loss on disposition of assets other than inventory . . . 21g

22 Other income (loss) items with differences (attach schedule) . . . 22

23 Total income (loss) items. Combine line 1 through line 22 . . . . . 23

24 Total expense/deduction items (from Part III, line 30) . . . . . . . . 24

. . 25

Other income (loss) and expense/deduction items with no differences

26 Reconciliation totals. Combine line 23 through line 25 . . . . . . . 26

NOTE: Line 26, column (a), must equal the amount on Part I, line 11, and column (f) must equal Form 565 or Form 568, Side 3, Schedule K, line 21(a), column (d) .

Form M-3 (565/568) Draft - Net Income (Loss) Reconciliation For Certain Partnerships And Llcs - 2009 Page 2

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